The number of iPhone Apps just got larger with the introduction of the MyFICO credit score estimator. The MyFico App quickly estimates your credit score based upon the answers you provide to 10 multiple choice questions.
The questions are about the number of credit cards you have, how long ago you got your first credit card and first loan, how many loans or credit cards you have recently applied for, how many your loans and/or credit cards have balances and what are those balances, if you have missed any payments or have overdue balances, and whether you have gone through a bankruptcy or foreclosure in the last 10 years.
Since I recently pulled my own FICO score, I decided to put the myFICO credit score estimator to the test and assess its accuracy. The result … my actual FICO score was within the estimated range of the MyFICO credit score estimator. Granted it is a fairly large range but in its defense it is only meant to be an estimation of your credit score and not your actual credit score.
If you are thinking about buying a house in Spring Texas but are concerned your credit is not good enough, give the MyFICO credit estimator a try. It will at least give you a general idea of your credit score. You will need a credit score of at least a 600 and possibly a 620 to qualify for a loan on a Spring Texas home. These days the majority of mortgage lenders require a minimum of a 620 credit score for FHA loans.
I am an Escrow Officer for Texas American Title-The Woodlands. I have had the pleasure of partnering with Jill... read moreI am an Escrow Officer for Texas American Title-The Woodlands. I have had the pleasure of partnering with Jill Wente on several real estate transactions. Her attention to detail and knowledge of the real estate industry are top notch! She is honest, straight forward, organized, and completely in tune with each of her transactions. She asks questions and truly listens to the information given to her and applies it in her future transactions. She is wonderful to work with and proves in each transaction that her top priority is that her clients are given the best customer service and are comfortable with each step of the process. She works proactively rather than reactively, and prepares herself for any questions her clients may have during the process, and does so before the question arises. Her clients are lucky to have her on their side! I look forward to any and all opportunities I have to partner with Jill in the future. read less